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IAN investors score 12x returns from Woodenstreet exit 

Indian Angel Network (IAN), a platform for seed and early-stage investing, has exited from one of its portfolio companies, Woodenstreet. Some investors exited from the company with a return amounting to 12 times their investment in a period of a little more than two years. 

The home furniture and decor platform raised funding from IAN Fund and IAN angel investors in 2020.       

The last funding that Woodenstreet raised was $30 million in a Series B round from WestBridge Capital.

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Customer engagement platform Exotel has launched ExoMind, a user-friendly, no-code tool that enables enterprises to create their own advanced chatbots within minutes. The cloud-based enterprise tool incorporates proprietary AI models and advanced generative AI capabilities to provide personalised customer interactions to brands. The bots are said to have been deployed by large enterprise customers.

Unlike traditional rule-based chatbots, ExoMind bots will utilise the Large Language Model (LLM) of GPT-4, generating responses that are highly accurate, natural and well-adapted to the context of the enterprise. The custom bots can then be deployed across the entire customer lifecycle, from marketing and sales to support and troubleshooting, across channels such as WhatsApp and the web.

IOL Chemicals and Pharmaceuticals appoints Vikas Vij as CEO 

IOL Chemicals and Pharmaceuticals Limited, manufacturer of active pharmaceutical ingredients and specialty chemicals, has appointed Vikas Vij as the new chief executive officer, with effect from April 3, 2023.

Vij, who takes over from Dr Sanjay Chaturvedi, will aid the company in bolstering growth across domestic and international markets by leading portfolio enhancement and efficiencies.

Vij has a techno-commercial background with a nuanced understanding of active pharmaceutical ingredients (APIs), finished dosage forms, custom pharmaceutical services, specialty chemicals, and operations from his previous leadership roles across the pharma value chain. He was earlier associated with Cipla as the senior vice president of APIs and access business units. In his career spanning over 30 years, he has donned various roles in Ranbaxy, GVK Biosciences, Alembic Pharmaceuticals, Sun Pharma, and Apollo Hospitals.